london scottish finance

robbi46

Hi all,

I have a pending repayment for £2000 from London Scottish who are in administration. I have received a letter today with a cheque for £201, the letter states that they are paying me 1.6p in every pound, and that the payment is made out of recent monies made available to pay non-preverential creditors.

I just wondered whether i will eventually receive the full amount of PPI owed to me or whether this is a finalised payment.

If anyone has been or is going through a similar scenario with these people it would be nice to hear from you.

Happy PPI hunting.

Rob

[Deleted User]

robbi46 wrote: »

I just wondered whether i will eventually receive the full amount of PPI owed to me or whether this is a finalised payment.

Where would further monies come from a firm in administration? Doesn't it state in the letter that this is offered as final settlement? I suppose you could approach the Financial Services Compensation Scheme (FSCS), that was set up to provide assistance to those penalised by firms no longer trading. I'm not sure they'll be able to help in this instance and it's certain you won't receive all redress plus interest.
Here's a link;
http://www.fscs.org.uk/what-we-cover/questions-and-answers/

Hope that helps...

robbi46

the letter they have sent to me does not mention a that it is a final settlement and states that i am a non-preferential creditor..they owe me money, they took it unwillingly from me, as have other firms that have paid in full. i appreciate that they are in admin. but as it also states that they have had nearly 6 mill. made available i can only assume that they are paying more important bills. Anyone who has had experience of this your advice would be appreciated.

[Deleted User]

robbi46 wrote: »

it states that i am a non-preferential creditor..

Unfortunately, this means that you are at the back of the queue for payment and they obviously owe a great deal more than the £6Million they have set aside to cover outstanding debt. The only way you will receive more money is if they come out of administration and make enough profit to service their debt.

Did you go to the FCSC website?